Mandeep Modi (Article) (28 Points)
27 December 2008
I have a query on house property.
There are two assessee X and Y. Both own the property equally. But EMI on loan is paid by X and the benefit was claimed by Y on the Interest and Principal amount in his return of income. But Y haven’t claimed Stamp duty charges and registration fees U/s 80C. Now X who haven’t filed the return can claim such expenses u/s 80C.
somya
(ca )
(172 Points)
Replied 27 December 2008
Under 80C the assessee can claim deduction only for principal amount of loan and for interest he can claim under the head income from house property. but he cannot claim for any other charges under deductions or any other head.
Zeel
(study/article)
(136 Points)
Replied 27 December 2008
stamp duty and registeration fees r to be added in cost of houses but r not available as deduction u/s 80c but u can have deduction of loan interest u/s 24 from hp income and principal amt paid as deduction u/c 80c as per ur share in house.
CAclubindia
